Nokia Corp. (NYSE:NOK) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 43,586,411 shares, a growth of 9.9% from the August 31st total of 39,650,164 shares. Based on an average daily volume of 12,214,962 shares, the short-interest ratio is currently 3.6 days.
Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “focus list” rating on shares of Nokia Corp. in a report on Friday, June 10th. Argus reiterated a “buy” rating and issued a $10.00 price target on shares of Nokia Corp. in a report on Monday, August 15th. Bank of America Corp. reiterated a “buy” rating on shares of Nokia Corp. in a report on Thursday, July 14th. BMO Capital Markets reiterated a “buy” rating and issued a $7.00 price target on shares of Nokia Corp. in a report on Wednesday, August 3rd. Finally, Vetr cut shares of Nokia Corp. from a “buy” rating to a “hold” rating and set a $5.92 price target on the stock. in a report on Wednesday, July 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $7.18.
Large investors have recently modified their holdings of the stock. Prospera Financial Services Inc bought a new stake in shares of Nokia Corp. during the second quarter worth $101,000. National Asset Management Inc. bought a new stake in shares of Nokia Corp. during the second quarter worth $113,000. Advisor Group Inc. bought a new stake in shares of Nokia Corp. during the second quarter worth $127,000. Eqis Capital Management Inc. increased its stake in shares of Nokia Corp. by 1.2% in the second quarter. Eqis Capital Management Inc. now owns 23,380 shares of the technology company’s stock worth $133,000 after buying an additional 267 shares during the last quarter. Finally, Regentatlantic Capital LLC increased its stake in shares of Nokia Corp. by 96.8% in the second quarter. Regentatlantic Capital LLC now owns 23,522 shares of the technology company’s stock worth $134,000 after buying an additional 11,570 shares during the last quarter. 4.28% of the stock is currently owned by institutional investors.
Shares of Nokia Corp. (NYSE:NOK) opened at 5.79 on Friday. Nokia Corp. has a 1-year low of $5.01 and a 1-year high of $7.63. The firm’s 50 day moving average price is $5.68 and its 200-day moving average price is $5.70. The company has a market capitalization of $33.42 billion, a P/E ratio of 31.81 and a beta of 1.49.
Nokia Corp. (NYSE:NOK) last posted its quarterly earnings results on Thursday, August 4th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the company posted $0.09 EPS. Nokia Corp.’s quarterly revenue was up 91.3% compared to the same quarter last year. Analysts expect that Nokia Corp. will post $0.20 EPS for the current year.
About Nokia Corp.
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.
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